Italian aerospace and defence major Leonardo has announced robust financial results for 2024, with the company recording strong growth across key business areas. The Board of Directors of Leonardo, under the Chairmanship of Stefano Pontecorvo, unanimously approved the full year...
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Italian aerospace and defence major Leonardo has announced robust financial results for 2024, with the company recording strong growth across key business areas. The Board of Directors of Leonardo, under the Chairmanship of Stefano Pontecorvo, unanimously approved the full year 2024 results on Tuesday.
Orders reached €20.9 billion, representing a 16.8% increase compared to 2023, even in the absence of major large contracts. The order backlog ensures a coverage in terms of equivalent production equal to 2.5 years, and exceeded the threshold of € 44 billion in 2024.
The growth in orders was driven by the contribution from Electronics for Defense and Security, which spanned all key business areas of the EDS Europe segment and the subsidiary Leonardo DRS, as well as the Helicopters division, both in the government and commercial sectors. The contribution from Cyber & Security Solutions, along with growth across all business sectors in which the Group operates, also contributed to the increase.
Revenues grew by 16.2% to €17.8 billion, with nearly all business sectors seeing growth, particularly driven by the consistent improvement in the execution capacity of the order book and the ongoing optimization of the supply chain. The Electronics for Defense and Security segment, both in Europe and especially the U.S., and the Helicopters division, played a significant role in the growth.
EBITA amounted to €1,525 million, a 15.8% increase compared to 2023. The solid performance in the Defence & Security business segment, particularly Electronics, and the acceleration of the savings plan, more than offset the effect of negative external factors on both the Aerostructures performance and the Space manufacturing segment.
The Promise of More
In 2025, Leonardo expects new orders of around €21 billion, in line with the good performance recorded in 2024. It expects further strengthening of the core business, driven by the growth of orders in defence and security electronics, helicopters, and on proprietary aircraft platforms.
The company expects revenues of approximately €18.6 billion, an increase compared to 2024. This is due to activities already in the order backlog, which in 2024 reached a record value of approximately €44 billion. The company expects increasing profitability, with EBITA of approximately € 1,660 million, supported by volume growth and the confirmation of strong levels of industrial profitability in the main business areas.
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